XRP, a large-cap cryptocurrency, has experienced a significant increase in value, rising by 40% on Monday. This growth can be attributed to factors such as WisdomTree’s spot XRP ETF application, the increasing odds of RLUSD stablecoin approval, and strong activity in the futures market. XRP’s market capitalization has surpassed $150 billion as a result.
Experts predict that XRP’s price will continue to rise, but suggest that sidelined investors and swing traders should wait for a better entry point to scale into their long positions. The token faces key resistance levels on both its USD and BTC charts, and a short-term dip is possible. XRP’s price chart reflects a bullish breakout from a 3-year consolidatory triangle, and prominent analysts, such as Blockchainedbb, predict the token price could reach $3.30 in the coming months.
XRP has already overtaken Solana and Tether in market capitalization, making it the third-largest cryptocurrency behind Bitcoin and Ethereum. WisdomTree’s S-1 application for an XRP spot ETF has added to the fear of missing out (FOMO), and there is increasing interest in BlackRock and Fidelity. The possibility of Ripple’s RLUSD stablecoin and strong futures market activity also contribute to the bullish trajectory.
The XRP price has increased by nearly 400% since Donald Trump’s victory. Anti-Ripple SEC Chair Gary Gensler is set to resign, potentially leading to the approval of a spot XRP ETF and settling the SEC’s lawsuit against Ripple. This would provide regulatory clarity, global partnerships, and increased institutional demand for XRP.
As a result, some XRP price predictions suggest the token could trade as high as $18 in the long term. While XRP remains an attractive long-term investment, there is a possibility of a short-term dip. Investors may want to wait for a successful retest of the $2.50 support or a dip below the $2.00 price mark before entering long positions.
In the meantime, other crypto assets with bullish charts, such as Base meme coin Brett and Moo Deng, may see increased investment. The upcoming launch of Pepe Unchained, a meme coin with utilities and a Layer-2 chain, is generating significant interest and hype, positioning it as one of the best cryptocurrencies to invest in.
Join Our Telegram Group for the Latest Crypto News!
Stay ahead in the cryptocurrency market with timely updates, exclusive insights, and expert analysis. Join our Telegram group now and never miss out on important market movements!
Join Now
